Home » Industry » Zimbabwean President Optimistic About Mining Growth Prospects

HARARE– Zimbabwean President, Emmerson Mnangagwa, said yesterday, his government’s target to achieve a 12-billion U.S. dollar mining industry by 2023, is achievable given the growing momentum in the industry.

He said, it was encouraging that last year, and despite the negative effects of the COVID-19 pandemic, the mining sector’s performance amounted to 5.2 billion U.S. dollars, from 2.9 billion dollars in 2017.

“Well done to the sector stakeholders for a commendable performance,” he said, while opening the annual mining exhibition in the second city of Bulawayo, yesterday.

He said, since assuming power in 2017, he had commissioned various signature mining projects in the areas of exploration, extraction and expansion, covering such minerals as lithium, platinum and gold, adding that, more projects will be coming on stream between the next 20-24 months.

“The 12-billion-dollar target is, therefore, within reach, and set to see the realisation of a diversified, integrated, modern and industrialised economy, synonymous with a prosperous society,” Mnangagwa said.

Mining is strategic to the Zimbabwean economy, accounting for more than 60 percent of foreign currency receipts annually, and 13 percent of GDP.

Mnangagwa pledged more incentives to mining sector investors, and called for the efficient organisation and syndication of the artisanal, small- to medium-scale miners in the sector.

“Going forward, I call upon the sector to rally its players, to adopt contemporary and appropriate mining technologies across the mineral value chain. This must result in the efficient extraction and guarantee realisation of the maximum value from our God-given endowments,” Mnangagwa said.

He called on the sector to venture into quality production and competitively priced mining consumables, in line with “Buy Zimbabwe; Made in Zimbabwe; Build Zimbabwe” initiative.

“Riding on increased capacity utilisation of the various mining houses, there is no excuse for the continued importation of mining consumables and related accessories, such as mill balls and conveyor belts, among others,” Mnangagwa said.

Source: NAM NEWS NETWORK

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